April 16, 2024

China's gross domestic product (GDP) expanded by 5.3 percent year on year in the first quarter of 2024, reaching 29.63 trillion yuan ($4.17 trillion), data released by the National Bureau of Statistics (NBS) showed on Tuesday.

The country's value-added industrial output, an important indicator measuring the activity of enterprises with annual turnover of at least 20 million yuan, went up 6.1 percent compared to the same period last year. 

Meanwhile, retail sales of consumer goods, a major indicator of the country's consumption strength, climbed 4.7 percent; fixed-asset investment rose 4.5 percent year on year; and surveyed urban unemployment rate on average stood at 5.2 percent, 0.3 percentage point lower than the same period last year.

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